The S&P Select Sector Index contracts are scheduled to launch in the fourth quarter of 2017 or early 2018, pending regulatory approval. The new index options are expected to have particular appeal for European investors who cannot currently hold options on exchange-traded funds under UCITS rules.

“We will be able to provide exposure to these key US sector indices for European customers who have been keen to incorporate US sector investing strategies into their portfolios, but have not had access to an efficient trading vehicle to realise this strategy,” said Chris Concannon, president and chief operating officer of CBOE Holdings, speaking at the CBOE’s European risk management conference near London this morning.

“CBOE Select Sector Index options will offer European asset managers and investors the targeted exposure to US equity sectors they have been missing, and also give US asset managers a new avenue for options investment.”

The European-style cash-settled options will expire on the third Friday of each month, similar to CBOE’s S&P 500 options.

CBOE is also planning to launch bitcoin futures around the same time, following its recent agreement with Gemini, the cryptocurrency exchange founded by Cameron and Tyler Winklevoss. (Reporting by Helen Bartholomew)